this post was submitted on 05 Mar 2025
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In short:

Star Entertainment could enter administration on Wednesday with the company set to run out of cash by the end of the week.

The struggling casino operator was suspended from trade on the ASX on Monday.

What's next?"

Star's CEO Steve McCann is still searching for a deal to refinance the company's loans to prevent it from collapsing.

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[–] a1studmuffin@aussie.zone 26 points 1 month ago (1 children)

It takes a special kind of mismanagement to go broke running a casino. Bravo.

[–] sqgl@beehaw.org 7 points 1 month ago

Trump playbook.

[–] dumblederp@aussie.zone 20 points 1 month ago

Good. Fuck casinos and pokies.

[–] TheCriticalMember@aussie.zone 13 points 1 month ago (1 children)
[–] Nath@aussie.zone 4 points 1 month ago (1 children)

I'm flipping between this response, and @a1studmuffin's response - how the hell do you go broke running a casino? A state monopoly casino with no competition?

[–] TheCriticalMember@aussie.zone 3 points 1 month ago

Maybe the execs went to trump university...🤔

[–] tombruzzo@aussie.zone 10 points 1 month ago

Guys, please pray for Star

[–] No1@aussie.zone 6 points 1 month ago* (last edited 1 month ago)

The NSW Libs even shutdown Sydney nightlife to funnel everyone to the Star Casino. That didn't save them in Sydney.

Packer's Pecker took the high rollers, and it's barely different from any club, pub, or rsl. And some of those are significantly nicer environments.

[–] Jumuta@sh.itjust.works 4 points 1 month ago